On his way to his Mind Capital plea hearing, David Lee Kagel, a fraudster involved in the Mind Capital Ponzi scheme, collapsed.
According to a May 13th entry in the minute records for Kagel’s court proceedings;
[Kagel] lost consciousness in the elevator as he was headed to this hearing.
Emergency medical technicians are currently tending to the defendant, who will soon be transported.
Kagel was due to enter a guilty plea regarding criminal charges stemming from his role in the Mind Capital Ponzi scheme.
Following Kagel’s collapse, the court has decided to postpone his plea hearing until May 28th.
A securities law expert, Kagel lost his legal license for the “misappropriation of client assets” in March 2023.
In June 2023, Kagel was indicted and confessed to a single charge of conspiracy to defraud.
Alongside co-accused David Gilbert Saffron and Vincent Anthony Maazzotta Jr., Kagel played a role in cheating consumers via the Mind Capital operation.
Which exact counts Kagel will admit to and the sentence he could face are yet to be established.
Update 29th May 2024 – David Kagel has entered a guilty plea to a singular criminal count related to Mind Capital.